23 March 2023
Higher dividend than last year proposed for Sava Re shareholders
Pursuant to the rules of the Ljubljana Stock Exchange d.d., Ljubljana, and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, makes the following announcement:
At its session on 22 March 2023, the supervisory board of Sava Re d.d. approved the audited annual report of the Sava Insurance Group and Sava Re d.d. for 2022.
The supervisory and management boards have prepared a proposal to the general meeting to pay a gross dividend of EUR 1.60 per share to the Company’s shareholders. This corresponds to a total of EUR 24,796,313.60, or 36.3% of the Group’s net profit for 2022. The proposed dividend represents an increase of 6.7% compared to the dividend paid out for 2021.
The Sava Insurance Group performed well and better than planned in 2022, despite the challenging environment, achieving a net profit of EUR 68.2 million. The dividend proposal is in line with the Company’s dividend policy, which sets the payout range between 35% and 45% of the Group’s net profit. The proposal was made taking into account other circumstances, such as the estimated surplus of eligible own funds over the solvency capital requirement under Solvency II, the own risk and solvency assessment of the Group, the capital models of S&P Global Ratings and AM Best, the approved annual business and strategic plans of the Group and the Company, new development projects to engage additional capital, and other relevant circumstances affecting the financial position of the Company.
Based on the proposal of the Sava Re management board, the supervisory board approved the proposed resolution on the appropriation of the distributable profit of EUR 41,790,617.92 as at 31 December 2022, as presented in the 2022 annual report: EUR 24,796,313.60 to be used for dividends, and the remaining part of distributable profit of EUR 16,994,304.32 to be left unallocated as retained earnings.
8 June 2023
Notification of managers' transactions in POSR shares
Pursuant to the rules of the Ljubljana Stock Exchange, Ljubljana, and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, 1000 Ljubljana (also the...
5 June 2023
AGM: Result of general meeting
Pursuant to the Rules of the Ljubljana Stock Exchange, Ljubljana, and applicable legislation, Sava Re d.d., Ljubljana, announces the resolutions passed by the 39th...
31 May 2023
First-quarter results for 2023: Sava Insurance Group achieves high growth in business volume and generates net profit of more than €20m
Pursuant to the rules of the Ljubljana Stock Exchange d.d., Ljubljana, and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, makes the...